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Nasdaq-100 Wave Analysis

  • Nasdaq-100 broke pivotal support level 12235.00
  • Likely to fall to support level 12000.00

Nasdaq-100 recently broke the pivotal support level 12235.00 (former strong resistance from December) intersecting with the 38.2% Fibonacci correction of the previous sharp upward impulse from January.

The breakout of the support level 12235.00 was preceded by the breakout of the sharp daily up channel from January – which accelerated the active impulse wave 1.

Nasdaq-100 can be expected to fall further toward the next round support level 12000.00 (target for the completion of the active impulse wave (iii)).

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